Accurate Cost Tracking and Reporting
Due to uncertainties and risks inherent in drilling wells, typically only 10% of Purchase Orders contain detailed line items, e.g. tangibles.
Complex rentals and services are generally mobilized and tracked via spreadsheets, PDFs and docs when the rig requests equipment.
These spreadsheets are prone to errors, difficult to analyze and manage, resulting in:
Wells may not be reconciled for months, resulting in unidentified cost overruns coming to light, often long after the well has been completed.
CTX solves these issues by helping to optimize materials and logistics processes (driven by cost) and accurately tracking costs on a daily basis.
